Prospective Client Inquiry: Financial planning company portrait needed

This prospective client wrote, in an unsolicited e-mail inquiry:

I’m in need of a professional shot (likely, waist up) for my firm’s website and for a feature in {local society magazine} magazine.

Curious what your turnaround, rates, etc. would be for digital-only work (i.e. no prints needed).

Thanks,
{Prospective Client}
{Local Financial Planning Firm}

Variable/non-specific, as noted in e-mail.

The following information should give you a clear indication of the rights granted (and not granted) for this use. Note, this is my interpretation of the rights package requested, and the language I used to respond to the client, based upon the USEPLUS.com website:

PLUS Pack: Periodical Interior - One Issue (PPIO)

Description (for this use)
Use in a single printed issue on an interior page of {local society magazine} magazine.  Includes distribution of same issue on publisher’s website. Reproduction of page for promotional purposes.

Licensing Parameters
One time use, English Only, USA.

---

PLUS Pack: Web or Electronic or Broadcast - Commercial (PRWC)

Description (for this use)
Use on {local financial planning company} website - intended for commercial or promotional purposes.

Licensing Parameters
{local financial planning company} website only. Duration not stipulated

Note: Client did not stipulate a duration for their website use. I’d recommend a one year and three year duration for your calculations.

So, how would you estimate this assignment? Do you have all the answers/information, either from the client, or me, to provide an estimate? Please give it some thought, and post your estimate details. As you learned in math class - 'show your work'. In other words, don't just present a single dollar figure. Break it out, creative/usage together (or separate, your call), and outline expenses, both probable and possible.

Setting aside how your estimate would be nicely and neatly laid out, put the crux of the estimate in your entry.

All entries are moderated. Your entry must be thoughtful, (and considerate of others when you're making a response) for it to be approved.

Assuming that I’m going to the clients location I would bill a $450 Creative Fee ($150 per hour with a 3 hour minimum) plus an $150 license fee.

I would deliver a CD containing (3) retouched files (FULL RESOLUTION TIFF, Full Res JPG and 72 dpi JPG)

$450 Creative Fee + $150 Image License Fee = $600 (Plus applicable sales tax and delivery)

Potentially you could also bill for these items:
1) Digital Capture Fee ($35)
2) Burning CD ($35)
3) Proof Sheet ($25)

On another note...how do I insert line breaks etc in my post?  I can’t figure it out

I would deliver a CD containing (3) retouched files

are you charging for retouching? what do you classify as “retouching”?

Converting from Yen to Dollars, I would quote…

Photography-- $250
Post Processing-- $100
Expenses, including delivery-- $50

Licence 1 (magazine)-- $175 (up to half page, $250 if larger, though these are probably a little high if this a vanity piece)

Licence 2 (website)-- $100 for 1 year

Total estimate from me: $675 plus relevant taxes..

Very similar pricing for me to the previous one…

Photography-- $250
Post Processing-- $100
Expenses, including delivery-- $50

Licence-- $150

Total Quote-- $550

I’d be discussing in a little more detail what the client wants and thinking about logistics before sending in the quote. I’m confident, for example, that I could do this with just small lights, but if it looked more like a job for big strobes, I would have to adjust the quote upwards and factor in an assistant, I would probably explain this to the client and see where this would leave us.

I was quoting on the basis of needing to get 2 or 3 ‘looks’ and being on-site for around 90mins-2hrs and with the ‘talent’ for about 30-45 mins…

Paul’s quote above looks about right to me, at $675 + taxes with line items as stated. However, I’d re-phrase “post processing” to “image prep/color correction/touch ups/post processing” (the $100 fee is becoming a standard ceiling in the editorial industry)…

I’d target roughly that price, but might break down further details explaining the costs, also list things such as Expendibles ($25 - to cover any batteries, etc.), CD/DVD (cite it as “achive-quality” and make not one but TWO, one for their backup), Equipment Prep (time spent being about 1 hour to sort the equipment for the job, pack it, load it), FedEx (cost plus handling time, so about $35), and too I’d cite a small fee (about $15) for the “Digital Archiving,” which means I’ll keep copies eternally within my own system - and hey man, RAID drives cost money.

If a location scout were needed, that too would be priced as at least $25 for me to swing my and poke around.

Other options would be to list much of the above as “included,” but itemized none-the-less on the estimate as it better helps them understand how I’m justifying my fees.

Assuming I would allow the client to select one final image from three possible “looks,” proofed online with final, retouched hi-res jpg or tiff provided on CD:

Production fee $135 (3 hours)

Usage fees (for 1 year duration)
Magazine $125
Web site $25

Assistant fee $82.50
plus expenses with 10% mark up (mileage, CD cost, etc.) and sales tax.

Approximate total: $ 400